Investments in equity securities as of December 31, 2017 and 2016 are summarized based on the primary industry of the investee in the table below (in millions).


	Cost Basis		Unrealized Gains		Unrealized Losses		Fair Value
December 31, 2017 *
Banks, insurance and finance	$	27,318	$	53,491	$	—	$	80,809
Consumer products		24,855		26,088		(68)		50,875
Commercial, industrial and other		24,029		14,969		(142)		38,856

	$	76,202	$	94,548	$	(210)	$	170,540

*	Approximately 65% of the aggregate fair value was concentrated in five companies (American Express Company – $15.1 billion; Apple Inc. – $28.2 billion; Bank of America Corporation – $20.7 billion; The Coca-Cola Company – $18.4 billion and Wells Fargo & Company – $29.3 billion).


	Cost Basis		Unrealized Gains		Unrealized Losses			Fair Value
December 31, 2016 *
Banks, insurance and finance	$	19,852	$	30,572	$	—		$	50,424
Consumer products		10,657		16,760		(9	)		27,408
Commercial, industrial and other		35,868		9,033		(701	)		44,200
Other investments		7,720		9,536		—			17,256

	$	74,097	$	65,901	$	(710	)	$	139,288

Approximately 60% of the aggregate fair value was concentrated in five companies (American Express Company – $11.2 billion; Bank of America Corporation – $14.5 billion; The Coca-Cola Company – $16.6 billion; International Business Machines Corporation – $13.5 billion and Wells Fargo & Company – $27.6 billion).

Investments in equity securities are reflected in our Consolidated Balance Sheets as follows (in millions).


	December 31,
	2017		2016
Insurance and other	$	164,026	$	134,835
Railroad, utilities and energy *		1,961		1,186
Finance and financial products *		4,553		3,267

	$	170,540	$	139,288

*	Included in other assets.